Corporation Bank’s employees and officers may observe a strike on December 20 to protest against the government’s move to push amendments to the banking laws. This is pursuant to the All-India Bank Employees’ Association (AIBEA), the Bank Employees’ Federation of India (BEFI), the National Union of Bank Employees and the All India Bank Officers’ Association who have given a call for observance of one day country-wide strike in banks on December 20, 2012 in support of their demands.
If the strike materializes, in such case, the normal functioning of the branches / offices of the Bank may get affected.
The proposed amendments to the banking law are aimed at effecting the merger of banks, allowing more private and foreign capital in banks, and raising the ceiling on voting rights. Further, the amendments will enable the central bank to grant licences to corporate business houses to start their new banks.
Corporation Bank has been serving millions of customers since 1906. With over 6000 service outlets overseas, it is one of the premier public sector banks in India.
